Katy Perry’s five studio albums for Capitol Records have been acquired by catalogue rights company Litmus Music, it was announced on Monday.
For $225 million, Perry gave the private equity Carlyle-backed company, which was co-founded by the former president of Capitol Records, Dan McCarroll, the rights to her work. The agreement covers Perry’s ownership interests in the five albums, “One of the Boys,” “Teenage Dream,” “PRISM,” “Witness,” and “Smile,” which were released between 2008 and 2020.
In December 2022, Keith Urban’s master recording rights were purchased by Litmus Music, which had just been founded with a $500 million investment from Carlyle’s Global Credit Platform.
Perry’s choice to sell her catalogue rights follows a 2023 trend started by musicians like Justin Bieber, who sold his catalogue for $200 million to Hipgnosis Songs Capital.
Katy Perry is a creative genius with a significant impact in music, TV, cinema, and philanthropy. I’m incredibly grateful to be working with her once more and helping Litmus in managing her enormous catalogue, McCarroll said in a statement.
Hank Forsyth, CEO of Litmus and a co-founder, stated that “Katy’s songs are an essential part of the global cultural fabric. We are so grateful to be working together again with such a trusted partner whose integrity shines in everything that she does.”
“We believe this is a testament to the team’s ability to partner with the world’s top artists. Katy’s iconic songs have not only achieved outstanding commercial success but have significantly influenced popular culture,” managing director at Carlyle, Matt Settle added.
Perry’s 2008 breakout track “I Kissed A Girl” launched her mainstream musical career and brought her enormous popularity. Five of the artist’s tracks from her 2010 album “Teenage Dream” reached the top of the charts. Nine of Perry’s singles have reached No. 1 on the “Billboard” Hot 100.
The music star is currently slowing down her career in order to focus on her residency in Las Vegas and starting a family with her partner, the actor Orlando Bloom.
Katy Perry Sells Her Music Catalog to Litmus for $225 Million first appeared on TheWrap.